ECOWAS: Market for Wheat and Meslin Flour 2024

Market Size for Wheat and Meslin Flour in ECOWAS

The ECOWAS wheat and meslin flour market was estimated at $X in 2022, rising by 2.5% against the previous year. The market value increased at an average annual rate of +1.3% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Production of Wheat and Meslin Flour in ECOWAS

In value terms, wheat and meslin flour production reached $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.0% from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2020 when the production volume increased by 17% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Exports of Wheat and Meslin Flour

Exports in ECOWAS

In 2022, approx. X tons of wheat and meslin flour were exported in ECOWAS; jumping by 24% on the previous year's figure. Overall, exports posted a notable increase. The growth pace was the most rapid in 2015 when exports increased by 30%. Over the period under review, the exports attained the maximum at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, wheat and meslin flour exports surged to $X in 2022. Over the period under review, exports enjoyed a pronounced expansion. The most prominent rate of growth was recorded in 2016 with an increase of 30% against the previous year. The level of export peaked at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

Ghana represented the major exporting country with an export of about X tons, which recorded 49% of total exports. Cote d'Ivoire (X tons) held the second position in the ranking, distantly followed by Togo (X tons) and Senegal (X tons). All these countries together held near 49% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Ghana (with a CAGR of +46.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Ghana ($X) remains the largest wheat and meslin flour supplier in ECOWAS, comprising 51% of total exports. The second position in the ranking was held by Cote d'Ivoire ($X), with a 26% share of total exports. It was followed by Togo, with a 12% share.

From 2012 to 2022, the average annual growth rate of value in Ghana amounted to +42.5%. The remaining exporting countries recorded the following average annual rates of exports growth: Cote d'Ivoire (-8.3% per year) and Togo (+27.8% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2022, waning by -6.7% against the previous year. Overall, the export price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when the export price increased by 16% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Ghana ($X per ton) and Cote d'Ivoire ($X per ton), while Togo ($X per ton) and Senegal ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Togo (+1.7%), while the other leaders experienced a decline in the export price figures.

Imports of Wheat and Meslin Flour

Imports in ECOWAS

In 2022, overseas purchases of wheat and meslin flour decreased by -23.5% to X tons, falling for the third year in a row after three years of growth. Over the period under review, imports continue to indicate a noticeable reduction. The most prominent rate of growth was recorded in 2017 with an increase of 68% against the previous year. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, wheat and meslin flour imports reduced dramatically to $X in 2022. Overall, imports continue to indicate a noticeable descent. The pace of growth appeared the most rapid in 2017 with an increase of 74% against the previous year. The level of import peaked at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

Sierra Leone (X tons), Ghana (X tons), Benin (X tons), Guinea-Bissau (X tons) and Niger (X tons) represented roughly 85% of total imports in 2022. It was distantly followed by Mali (X tons), creating a 6.1% share of total imports. Burkina Faso (X tons) took a little share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Guinea-Bissau (with a CAGR of +20.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Sierra Leone ($X), Ghana ($X) and Guinea-Bissau ($X) constituted the countries with the highest levels of imports in 2022, with a combined 56% share of total imports.

In terms of the main importing countries, Guinea-Bissau, with a CAGR of +19.1%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per ton, waning by -13.5% against the previous year. Over the period under review, the import price showed a slight shrinkage. The growth pace was the most rapid in 2021 when the import price increased by 11%. As a result, import price attained the peak level of $X per ton, and then fell in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Niger ($X per ton), while Benin ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Burkina Faso (+1.7%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform